Give Me a Bailout!!!

UUUMMM So the politicians are looking to borrow money that the FED printed out of thin air and give it to poorly managed companies.

They are borrowing credit that must be returned at interest.

They are claiming it will "kick-start" the economy

Instead, why don't they spread out the hundreds of billions to consumers, wipe out credit debt, and that way people will be able to put money back in
to collapsing banks/industries. Not give it as cash, but put it directly to wiping out debts to a certain value.

The Government should

-pay off personal debts
-not pay corporate debts

I know people are saying they should give people cash to spend, and I'm not convinced that would be wise. I suspect people won't clear debt and
people will hold onto it.
For example, they did this in Australia in December, about 5K each I think to spend, and it didn't really work, they should have got people out of
the debt trap instead.

The People will do more with that bail out money than any corporation will, and it will generate far more consumer confidence than if they give it to
companies that are worth nothing and will spend it on what? Bonus payments ? creating a bigger debt hole?

Why not trickle up effect instead of trickle down? Let the rescue package be to rescue the people who voted you in Obama, not the maniacs who got us
all into this mess.

It would be interesting to hear what people think can be done to reverse the recession, rather than wait to hear what the Government willl do, What do
you think they should do ?

Originally posted by zazzafrazz
Agree, but I think my option is better than the option they are providing!
Even if its flawed.
So are you also saying your solution is let it collapse completely?

Yup, sad but true, it's the only way to reform it in a way that would actually BENEFIT the citizens of the country as well as the world. I dont want
it to happen, but who am i kidding, i know who the monetary system works, and when you read about it, the flaw starts on paragraph 1, line 1, 1st
word.

I hear you, and I think the fastest most comprehensive solution is to totally remove money issuance from the private bankers, however, I don't want
children starving and people driving around like Mad Max. So a slower part solution is what I propose.
They have approved this money, so stuff me, give the debt to pay consumer debt, not corporate debt, I suspect within 6 months the coughing and
spluttering global economic engine would have kicked into 4th gear and chugging along....
by the way how do you spell check on ATS?

Originally posted by crw2006
Good idea, give everybody vouchers totaling 50k, you would have to use the funds to either, pay down credit card debt, buy a new car, down payment on
a house or home improvements.

Actually the more I think about this, it should be the personal bank debts repaid, You see what we are doing is killing 2 birds with 1 stone.

The banks will still GET the bail out, it just comes via us. When you repay a loan who are you giving money to ? Your credit provider. It will still
mean they get a bail out, we get a bail out, and we can get on with the business of undoing the current corrupt debt system!

Im actualy raging when I reflect on how pathetic bailing out the bigfish is. They deliberatly are making it worse. Thumbs down from me Obama, and I
WAS a fan

Well, personally I have problems with the whole idea of a "baliout" for anyone, although the systemic rot may have gone so far as to make it
unavoidable.

During the bubble years, lots of people took on too much debt and bopught big, flashy cars and houses they coulnd't afford. Now you want the
government to bail them out with MY tax dollars...during those years instead of buying into the madness I scrimped and saved and lived in a dumpy
little rental appartment, saving up cash rather than jumping into sketchy investments because I KNEW this day would come. Why should people like me be
punished while those who swaggered around living trashy, nouveaux-riche lifestyles on borrowed money get to keep all their toys? Doesn't seem very
fair to me, does it?

Bailouts --whether for companies or people -- creaste *moral hazard*. They encourage people to be financialy irresponsible because htye know that the
government will just pick up the tab. So after everyone gets bailed out, even more people will go back to spending money they don't have, and a few
year's later we'll be right back at the same place, only deeper in the hole.

If people get saved from their bad debt, they should have to pay in some way. Same with giant corporations. If all these banks are becoming goc't
owned, I want to the CEOs get paychecks that are like government employee paychecks. IF individuals are bailed out, people like me with actual cash
savings should get even MORE money to reward us for acting rationally and thinking long-term. Otherwise it isn't fair and encourages moral hazard.

I know my grandparents always scrimped and saved like you, and they kept cans of food overstocked in the pantry, I asked why and they said they
rememeberd the depression too well> I remember thinking as a kid, "as if we'll ever have a depression?"

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